Kazera Global (AIM:KZG), an AIM-quoted diversified commodity investment company, has signed a definitive settlement agreement with Hebei Xinjian Construction CC worth US$10.5 million, resolving a Namibian arbitration dispute over African Tantalum (Pty), known as Aftan.
The agreement replaces a May 2025 arbitration award in Kazera's favour of approximately US$11.9 million plus interest and costs, which the board had judged too uncertain and slow to enforce in practice.
An initial US$500,000 payment must reach Kazera by 6 July, once Namibian banking and exchange-control mechanics are completed; if that deadline is missed, the settlement lapses automatically and Kazera retains full rights under the arbitration award.
The remaining balance is payable in instalments through December 2029, or Hebei may settle early at a discounted US$9.0 million if paid in full by 31 December.
No ownership of Aftan transfers until aggregate receipts reach US$7.125 million, after which equity passes to Hebei in four equal tranches tied to further payment milestones up to the full US$10.5 million.
Combined with approximately US$4.1 million already received under the original 2022 sale agreement, the settlement creates a contractual pathway to aggregate receipts of roughly US$14.6 million, above the original fixed consideration of approximately US$13.0 million.
"We now turn to completing and publishing the Competent Persons Report on 2A in the near term," said Richard Jennings, Interim Chief Executive Officer.
